After a non-bailable warrant for his arrest was issued by the supreme court
Tag Archive: Vijay Mallya
Force India has lashed out at F1′s owner CVC, accusing the private equity firm of not being interested in developing the sport.
The financial news agency Bloomberg quoted deputy team boss Bob Fernley as saying new deals that give more money and power to the bigger teams are a “disaster”. “CVC is not interested in developing the sport, it’s interested in making as much money as possible and then selling it,” he said.
Luiz Razia insists he is not losing any sleep, despite coming tantalisingly close to realising his dream of racing in formula one this year.
In fact, he was even the subject of a Marussia media announcement and began testing his 2013 car recently in Spain, only to be let down by a crucial sponsor. “I will sleep tonight, knowing that the failure was circumstantial,” the 23-year-old Brazilian told O Estado de S.Paulo newspaper.
Boss and co-owner Vijay Mallya’s financial problems do not affect Force India, deputy team principal Bob Fernley insists.
This week, it emerged that lenders to Mallya’s failing airline Kingfisher are set to sell the billionaire’s collateral assets as they recall the loans. And the very latest reports are that Force India’s title sponsor Subrata Roy, of the Indian giant Sahara, has had 100 of his and the conglomerate’s bank accounts frozen by the Securities and Exchange Board of India over failing to repay investors.